Aragon launches defensive measures against Arca's '51% attack'
The Aragon Association has pulled plans to give ANT holders voting rights over its DAO in the wake of the attack. Aragon, an open-source framework designed to launch decentralized autonomous organizations (DAOs), has pulled plans for its native Aragon (ANT) token holders to be given voting rights over the future direction of the organization. The Aragon Association, a Switzerland-based organization that oversees the management of Aragon said in a May 9 tweet it exercised its “fiduciary duty” to secure its treasury and overall mission by “repurposing the Aragon DAO as part of a new grants program.” The decision was made after the recently launch ed Aragon DAO suffered a 51% attack at the hands of a group called the “Risk Free Value (RFV) Raiders” who were seeking to manipulate the use of ANT as a means to achieve financial gain. Today, the Aragon Association acted on its fiduciary duty to secure its treasury by repurposing the Aragon DAO into a grants program. This is a response to a...